Business
Fairchild Announces Private Placement and Withdrawal of Short Form Prospectus
(TheNewswire) Vancouver, British Columbia – TheNewswire - December 21, 2...
About this update from Fairchild Gold Corp.
[{"type":"text","content":"Fairchild Announces Private Placement and Withdrawal of Short Form Prospectus\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British\nColumbia\n \n \n –\n \n \n TheNewswire\n \n \n - December 21, 2022\n \n -- Fairchild\nGold Corp. (\"\n \n Fairchild\n \n \" or the “\n \n Company\n \n ”) (TSX\n \n V\n \n :FAIR) is pleased to\nannounce its intention to complete a non-brokered private placement\n(the \"\n \n Offering\n \n \") of\nup to 10,000,000 units (the \"\n \n Units\n \n \") at a price of CDN$0.06 per Unit for gross\nproceeds of up to CDN$600,000. The Company has also determined\n \n that, in light of current investment conditions, not to\nproceed with its previously announced prospectus offering  at this\ntime and is withdrawing its final short form prospectus previously\nfiled on January 24, 2022 (the “\n \n \n Short Form Prospectus\n \n \n ”).\n \n \n \n \n The Offering\n \n \n \n Each Unit will consist of one Common share in the capital of the\nCompany (a “\n \n Share\n \n ”) and\none whole transferable Common share purchase warrant (a “\n \n Warrant\n \n ”). Each whole Warrant will\nbe exercisable to acquire one Share at an exercise price of CDN$0.10\nper Share for a period of 36 months from the date of issuance, subject\nto the following acceleration right. If, at any time after the date\nthat is 4 months and one day after the date of issuance of the\nWarrant, the average volume weighted trading price of the Company’s\nCommon shares on the TSX Venture Exchange (or such other stock\nexchange on which the Common shares may be traded from time to time)\nis at or above CDN$0.50 per share for a period of 5 consecutive\ntrading days (the “\n \n Triggering\nEvent\n \n ”), the Company may at any time , after the Triggering\nEvent, accelerate the expiry date of the Warrants by giving ten\ncalendar days notice to the holders of the Warrants, by way of news\nrelease, and in such case the Warrants will expire on the first day\nthat is 30 calendar days after the date on which such notice is given\nby the Company announcing the Triggering Event.\n \n \n Certain insiders of the Company may acquire Units in the Offering. Any\nparticipation by insiders in the Private Placement would constitute a\n\"related party transact...